On the daily time frame USDJPY is at a key resistance again. A rejection can lead to a down move to 111.50 and possible 109. Since the price is at a rejection we rather sell it and aim at a rejection while using a stop loss around 114.75. If the daily time frame closes above this level then the resistance is broken and we switch to a buy and aim at 118 over the next couple of weeks.
If you want to play it safe then wait for either 114.75 to break and buy it or for 113.88 to break which is at the lower range.
If you want to play it safe then wait for either 114.75 to break and buy it or for 113.88 to break which is at the lower range.
Trade active
Comment:
moved stop to entry
Trade closed: target reached:
80 pips profit